AQR Capital Management LLC Has $13.63 Million Stock Holdings in UWM Holdings Corporation $UWMC

Key Points

• AQR Capital Management LLC significantly increased its stake in UWM Holdings Corporation by 1,144.7%, owning approximately 2.5 million shares worth $13.6 million after acquiring an additional 2.3 million shares in the first quarter.
• UWM Holdings reported a quarterly EPS of $0.16, exceeding analysts' expectations of $0.06, with total revenue of $758.7 million compared to an estimate of $621.6 million.
• The company recently declared a quarterly dividend of $0.10, which represents an annualized dividend yield of 6.2%, although its current payout ratio stands at an unusual -800.00%.

AQR Capital Management LLC lifted its position in shares of UWM Holdings Corporation (NYSE:UWMC - Free Report) by 1,144.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,496,805 shares of the company's stock after acquiring an additional 2,296,205 shares during the period. AQR Capital Management LLC owned 0.16% of UWM worth $13,633,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of UWM by 15.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock worth $2,229,000 after acquiring an additional 54,160 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in UWM by 112.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company's stock valued at $648,000 after buying an additional 62,862 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in UWM in the 1st quarter valued at about $65,000. GAMMA Investing LLC grew its position in UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after buying an additional 2,958 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in UWM by 25.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,014 shares of the company's stock valued at $176,000 after buying an additional 6,181 shares in the last quarter. Institutional investors own 53.59% of the company's stock.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 400,036 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $4.22, for a total value of $1,688,151.92. Following the transaction, the chief executive officer owned 1,499,352 shares in the company, valued at approximately $6,327,265.44. This represents a 21.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 14,001,260 shares of company stock valued at $66,653,998 in the last 90 days. Corporate insiders own 87.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on UWMC shares. The Goldman Sachs Group decreased their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Wednesday, July 2nd. Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods lowered shares of UWM from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $5.54.

UWM Trading Down 0.9%

UWMC stock traded down $0.07 during mid-day trading on Friday, reaching $6.85. 6,210,456 shares of the stock traded hands, compared to its average volume of 8,222,352. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $9.25. The company has a market cap of $10.95 billion, a P/E ratio of -136.90 and a beta of 1.76. The stock's fifty day moving average is $5.03 and its 200-day moving average is $4.88.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The company had revenue of $758.70 million during the quarter, compared to analyst estimates of $621.60 million. As a group, sell-side analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 5.8%. UWM's dividend payout ratio is currently -800.00%.

UWM Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.